Select a product you would like to market. This will be the product you will market throughout the project. For this assignment complete the following:
Identify your product.
Describe the target market for your product.
Using secondary research sources describe the industry and major competitors.
How has the industry evolved in terms of the product life cycle? Which product life cycle stage accurately fits the industry? Explain your reasoning using the information from assigned resources.
Explain which position will you take in the marketplace (market leader, challenger, follower, or niche)? What strategies will use? How would you adjust your strategy if there is an economic turndown?